The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-08-20
THE STATE OF TRADE.
Considerable Injury q Settled Fact
Decline In Cotton Monetary
tsatiOn-Fseshets.

Nav York, August l9.-R. G. Dun
Il Oo.'s weekly trade review has the
following points: Everything now
turna on crop prospects. Considers.
BILE injury Is no longer disputed; in.
deed, ite effects are already felt In the
diminishing demand from regions
most Affected by the drought for come
man ufactured products. But est
mates OF the extsnt Of the harm done
differ widely. Chicago and Detroit
advices Indicate that rains were too
late TO save a considerable portion OF
the corn crop, but after declining IA
cents on the growing impression that
the ;DiuTT would not prove 80 extern
s've az to balance the increase In acre.
age, the price rose as much on reports
OF Injury by frost on Thuroday. Latest
government reports point to probs-
Die yield slightly less than that OF last
year. Wheat rose ! cent on Wednes-
day, but Lost the advance. Ipiury 10
this crop does not appear to be i'm
portant and { iii :iel fgnres point to a
yield exceeding 430, 600, 900 bushels,
which. with socks carried over, would
meet all probable requirements.
Tbs cotton speculation has resulted
In further decline, and while New
Orleans reports as 10 the Yield are less
favorable. Atlanta and 9elyeston 10
port improvement, on account Of 10.
cent rains.
Tbeinjnry TO rice from droulh and
lfeshets 10 estimated In Savannah at
50 900 to 100000 bushels. What NAV
prove the most serious effect OF thr
long drou'h --ths injury TO the past.
urea aud the hay crop. and Gomez q 1en,
lnfsas ia dairy and animal PRODUCTS
Ia often overlooked. But tns move.
msnt OF grain from the Northwest ID
remarkably large, though lake trans
p0ftere get the lie ms share Of IL. But
talo July receipts by lake have neye,
been exceeded but once. while the lat
est report Of east bound rail chin,
ments from Chicago In the smallest fol-
many yeae.
While the railroads continue 10 70
port large earnings, l0S roads sho WING
q net gain OF ~ per cent. for July
over last year, the weakness In securi
ties operetes 90 prevent Gales for *
tensions and new roads, and thus nj
ieciA the demand for rails and iron
AT Philadelphia rails sem weaker
md q Gale Of 5000 tons to q SlutherI
road at price equivalent 10 $37 q
mill 10 noted. Makers are disposed Il
meet foreign composition, though ,
renewal of the compact TO regulat,
production promises 10 prevent a I'D a,
depression. Pig iron ia also shaded
and IL Ia admitted that the suppl,
seems 10 exceed Il q demand.
The monetary situation hss one IN
favorable and several favorable feat
ures. biTingenoy increases NJ several
interior p Siute, and reports OF unsatls.
factory or "only fair" collections gro "
more numerous. But the purchsse OF
bonde by tha trtaiurSr, the shipments
OF gold from Enrope, aud the sale OF
securillse abioal by Mr.. Gould and
come German houses here, appear to
avert pressure In this market for the
present Exports in July we're more
satisfactory aud for the past three
weets have besn slightly larger than
for the same weeks last year, and
while the reports Of gold on the wsv
from Europe are probably exaggerated
Tor efe,', the outward movement OF
- onrltieH undoubtedly continues.
The possibility OF important failures
feiuliitg irom recsnt daring specula.
lone, and the chance Of lars . EN- and Is
for money from tho West and South
are not to be. tafdly overlooked. The
busiles- failures occurring throughout
tho United \ aiss and Oaaada curing
lle latt ven days number for the
United States 1856. and for Canada
twenty.s'x